Handle renewals and notice periods

Every agreement with an end date gets a renewal plan, so the last day to give notice never passes unseen. You then decide: let it renew, renew it on new terms, send a renewal proposal, or give notice.

Before you start

• You need the right Manage agreements and their invoices; a renewal proposal also needs Create and edit proposals.
• The days are set in Contracts settings (see Switch on and set up Contracts).

Steps

Follow the plan

1. Open the agreement. Coming up lists the next dated steps: Renewal task, Reminder, Notice date, End of term and any Milestone due.
2. 90 days before the end, a Renewal task reaches Today and Needs you: "Plan the renewal of" the agreement.
3. 30 and 7 days before the Last day for notice, reminders follow: "the notice date is coming".
4. On the last day for notice, the agreement shows In notice and an item says it is in its notice period.
5. At the end, an agreement that Renews automatically starts a new term by itself; otherwise it becomes Expired.

Give notice

1. Open Give notice.
2. In Who gives notice, pick We do or They do, and the End date.
3. Select Save. The agreement shows In notice, it will not renew automatically, and it ends on that date.

Renew in place

1. Open Renew.
2. Type the term in months, and a New value (empty = the renewal rule) if the price changes.
3. Select Renew. A new term starts the day after the end, as a new version, and the agreement is Active again.

Send a renewal proposal

1. Select Renewal proposal at the top of the agreement. A new proposal opens for the same customer.
2. Edit and send it as usual. When the customer accepts, the old agreement shows Renewed, with a link to the one that renewed it.

Good to know

• The last day for notice is the end date minus the notice period: with an end on 31 December and 30 days' notice, it is 1 December.
• Each step happens once. Changing the end or the notice period, by an amendment or by giving notice, makes a new plan with the new dates.
• Reminders are items on Today and in Needs you for the people who manage agreements; select Done when handled.
• Leave the new value empty to keep the agreement's renewal price rule; unless it was set otherwise, that is the same value as before.
• Related: Create and manage an agreement.